Miami General Employees’ and Sanitation Employees’ Retirement Trust terminated Insight Capital Research & Management from an $8 million active domestic small-cap equity portfolio, recently released board meeting minutes said.
The $652 million pension fund voted to terminate the firm because the manager has “been on and off probation numerous times as well as on the watch list,” according to the minutes. The board voted to liquidate its portfolio and use the assets for benefit payments.
Philip Hamilton, Insight’s managing director, director of marketing, declined to comment.
Sandra Elenberg, pension fund administrator, did not reply to requests for further information by press time.